Industryweek 25250 Caterpillar 1 0

Caterpillar Overtakes Boeing as Dow's Best on Earnings Euphoria

Oct. 24, 2017
CEO Jim Umpleby, who took over in January, has Caterpillar on track for its first annual sales gain since 2012 amid a broad-based recovery across industries and regions.

Caterpillar Inc. surged the most in six months after beating sales and earnings estimates and raising its own forecasts amid surging Chinese construction and recovering resource industries.

The machinery-making giant jumped as much as 6.7% on Oct. 24, extending a gain in the past three months to 28%.

That’s the best performance on the Dow Jones Industrial Average, relegating Boeing Co. to second place.

CEO Jim Umpleby, who took over in January, has Caterpillar on track for its first annual sales gain since 2012 amid a broad-based recovery across industries and regions.

The Deerfield, Ill.-based company projected 2017 sales of $44 billion, marking a third-straight increase in annual revenue projections. It also raised its earnings forecast.

Boeing, still the index’s best performer year to date, is scheduled to report earnings on Oct. 25.

By Joe Deaux

Popular Sponsored Recommendations

Global Supply Chain Readiness Report: The Pandemic and Beyond

Sept. 23, 2022
Jabil and IndustryWeek look into how manufacturers are responding to supply chain woes.

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

How Manufacturers Can Optimize Operations with Weather Intelligence

Nov. 2, 2023
The bad news? Severe weather has emerged as one of the biggest threats to continuity and safety in manufacturing. The good news? The intelligence solutions that build weather ...

How Organizations Connect and Engage with Frontline Workers

June 14, 2023
Nearly 80% of the 2.7 billion workers across manufacturing, construction, healthcare, transportation, agriculture, hospitality, and education are frontline. Learn best practices...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!